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Kurita Water Industries Ltd (KTWIY) Fair Value & Analysis

Industrials · US · Market cap $6.7B

KW Kurita Water Industries Ltd logo Kurita Water Industries Ltd KTWIY · US
Price$100.00
Fair Value$50.12
Upside-49.9%
Quality61/100
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Strengths

Healthy Growth
Low debt · generates free cash flow
Ranks above peers (7/11)

Risks

!Trades 50% ABOVE our fair value of $50.12
!Thin margins · 4.0% net margin
!Moderate moat 46/100
!Weak on dividend: 22 out of 100
Healthy Growth
Thin margins · 4.0% net margin
Low debt · generates free cash flow
1.11% dividend yield
Ranks above peers (7/11)
Moderate moat 46/100
Evidence: High Range $37.00 – $64.23 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 7 days ago

Fair value updated Aug 13, 2026, revised from $48.55 to $50.12 (+3.2%) since Jul 19, 2026. Share price −11.8% over the past month.

A solid business, but screening 50% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case ($64.23). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

$122.41 $3.58 Fair Value $50.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $3.58 – $122.41 · fair‑value band $37.00 – $64.23 · the $100.00 price screens above the $50.12 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kurita Water Industries Ltd (KTWIY) currently trades at $100.00, while our model-based Fair Value estimate is $50.12, implying the stock looks roughly 49.9% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Kurita Water Industries Ltd generated revenue of $403B at a net margin of 4.0%. It earns a return on equity of 11.8%. Net debt stands at $7.3B. The stock trades on a trailing P/E of 22.2. Fundamentals as of Aug 13, 2026

Our scenario range runs from $37.00 (bear case) to $64.23 (bull case); at $100.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -31% fair-value upside, at -50%, KTWIY screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $48.35 $74.21 $113.07 80
Rev-Margin DCF $39.80 $61.39 $87.27 74
ROIC Compounder $25.38 $28.89 $31.92 72
All 24 models by family
DCF Models
FCF DCF $48.05 $74.79 $115.62 38
Owner Earnings $31.22 $47.94 $73.47 31
5Y Revenue Exit $39.80 $61.33 $89.01 39
5Y EBITDA Exit $76.21 $131.52 $197.97 41
5Y P/E Exit $40.82 $63.29 $87.28 38
10Y Revenue Exit $41.37 $61.79 $89.85 36
10Y EBITDA Exit $65.35 $110.22 $173.48 37
10Y P/E Exit $43.02 $63.14 $88.53 35
Earnings-Based
Graham-Dodd $16.23 $58.15 $78.36 54
Lynch FV $13.72 $19.59 $25.47 50
PEG = 1.0 $13.72 $19.59 $25.47 46
EPV $25.38 $28.89 $31.92 59
Multiples
P/E Multiple $37.59 $50.12 $62.65 63
P/S Multiple $30.43 $40.57 $50.72 58
P/B Multiple $30.43 $40.57 $50.72 55
EV/EBIT $50.00 $65.62 $81.24 53
EV/EBITDA $101.65 $134.48 $167.32 54
EV/Revenue $36.58 $50.92 $65.25 43
Asset-Based
NCAV (Graham) $19.89 $26.66 $39.79 50
Growth DCF
Growth DCF $48.35 $74.21 $113.07 80
Rev-Margin DCF $39.80 $61.39 $87.27 74
Economic Profit
Residual Income $30.88 $31.65 $31.48 61
ROIC Compounder $25.38 $28.89 $31.92 72
Growth Earnings
Growth-Adj P/E $26.21 $37.45 $48.68 68

Widest divergence: DCF Models ($63.14) versus Earnings-Based ($19.59). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $403B
Net margin 4.0%
Return on equity 11.8%
Free cash flow $34.1B FY2025
P/E ratio 22.2
Operating margin 14.5%
More key figures
EPS (TTM) $4.50
Dividend yield 1.1%
EPS growth (YoY) +13.0%
Net debt $7.3B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 54

Profitability 40
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Kurita Water Industries Ltd., together with its subsidiaries, provides water treatment solutions in Japan, rest of Asia, North and South America, Europe, the Middle East, and Africa. It operates through Electronics Industry and General Industry segments.

Full company description

Kurita Water Industries Ltd., together with its subsidiaries, provides water treatment solutions in Japan, rest of Asia, North and South America, Europe, the Middle East, and Africa. It operates through Electronics Industry and General Industry segments. The company offers boiler water, cooling water, and wastewater treatment chemicals; water and wastewater treatment systems; maintenance services; ultrapure water supply; engineering, chemical, and physical cleaning; precision tool cleaning and recycling; operation and maintenance of water treatment facilities; soil and groundwater remediation and survey; and analysis and consigned testing services. It also manufactures and sells water purifiers, softeners, filtration systems, water purifying faucets, faucets, pure water production equipment, and other products and services for commercial and household use. The company serves the electronics, pulp and paper, oil refining and petrochemical, iron and steel, automotive, food and beverage, office and commercial facilities, and power industries. Kurita Water Industries Ltd. was incorporated in 1949 and is headquartered in Nakano, Japan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kurita Water Industries Ltd reported revenue of $409B in FY2025 versus $268B in FY2021, a compound +11.2%/yr. Reported net income was $20.3B in FY2025, compounding +1.6%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$409B
Latest YoY
+6.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.1%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.8%
Revenue +11.2%/yr
FY21 $268B
FY22 $288B
FY23 $345B
FY24 $385B
FY25 $409B
Net income +1.6%/yr
FY21 $19.1B
FY22 $18.5B
FY23 $20.1B
FY24 $29.2B
FY25 $20.3B

KTWIY screens 50% overvalued. Compare with Veralto Corporation →

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Cite: Fair Value Calculator (2026). "Kurita Water Industries Ltd Fair Value". https://www.fairvalue-calculator.com/stock/KTWIY

Peer Group

Pollution & Treatment Controls · 93 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Top 25%
Fair Value upside −53% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 14% · Top 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Pollution & Treatment Controls median · lower = cheaper

P/E (TTM) 22.2× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 8
PAST47 · sector 16
HEALTH95 · sector 95
DIVIDEND22 · sector 45

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Pollution & Treatment Controls stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Veralto Corporation VLTO $97.68 $67.62 -31%
Zurn Elkay Water Solutions Corporation ZWS $51.02 $24.92 -51%
Canmax Technologies Co 300390 ¥61.99 ¥10.07 -84%
CECO Environmental Corp CECO $79.59 $15.19 -81%
Fujian Longking Co 600388 ¥17.41 ¥15.59 -10%
Munters Group MTRS kr 183.90 kr 48.58 -74%
China Conch Venture Holdings 0586 HK$8.69 HK$10.70 +23%
Mega Union Technology Inc 6944 747.00 TWD 539.58 TWD -28%
MayAir Technology (China) Co 688376 ¥71.82 ¥18.80 -74%
Jingjin Equipment Inc 603279 ¥12.41 ¥18.97 +53%

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Frequently asked questions

Is Kurita Water Industries Ltd (KTWIY) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $50.12 versus a price of $100.00, about −50% (overvalued).
What is the fair value of KTWIY?
Our model-based fair value for Kurita Water Industries Ltd is $50.12 (as of Aug 13, 2026), built from audited fundamentals. The current price: $100.00.
What is the quality score of KTWIY?
Kurita Water Industries Ltd has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Kurita Water Industries Ltd (KTWIY)?
Kurita Water Industries Ltd reported trailing-twelve-month revenue of about $403B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KTWIY?
The net profit margin of Kurita Water Industries Ltd is about 4.0%, meaning it keeps roughly 4.0% of revenue as net income. Based on the latest reported figures.
Does Kurita Water Industries Ltd pay a dividend?
Kurita Water Industries Ltd currently shows a dividend yield of about 1.11% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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